What Does an as-is Home Sale Mean?

What does an as-is home sale mean? It depends on whom you are talking to. Our California Residential Purchase Agreement says the home seller is not obligated to make any repairs to the home she is selling. Unfortunately, some buyers and agents think this is a time to renegotiate. A seller can say no, of course, but if she wants the sale to go through, she may reluctantly agree.

If a seller says no dice, take it or leave it, the buyer can then walk away. We then start over looking for a buyer. The process of inspections can be grueling on a rural property. For example, some cities will force you to hook up to city sewer lines. That can be so expensive. Sometimes costs could be $50,000. Always a good idea to check septics and wells, and local requirements.

Home inspections on older properties often point out all kinds of things. Of course, as these are old properties, remember, you are not reinventing the wheel here. If a seller hasn’t fixed the items during the years they have owned the property, do you think they are going to love the idea of repairing things that they lived with for years? These older homes have miles on them — just like an old car, it may run but burns oil and the front end shakes.

Always a good idea to educate buyers to remember if they negotiated dollars off the list price, then assume that was your repair credit. So what does an as-is home sale mean? The answer, all depends on whom you are talking to, lol. I think it is important to do all your inspections so you can decide if the property is right for you.

If you want to buy or sell real estate, call Weintraub & Wallace Realtors with REMAX Gold. We can be reached at 916-233-6759.

— JaCi Wallace